Growing Need to Increase Lifespan of Animals Continues to Boost Demand for Veterinary Diagnostic Imaging

Published On : 31 May 2017

QYResearchReports has added a report, titled “Global Veterinary Diagnostic Imaging Industry 2017 Market Research Report,” to its repository analyzing the various factors supporting the market’s growth and those challenging it. The report studies the key segments and sub-segments of this market and investigates the factors responsible for the leading, declining, and fastest growing segments or sub-segments. The most promising segment is pointed out so that readers know which segment has the most potential and thus, invest in it. The report forecasts the market size on the basis of the past and present market status and size. The degree of competition is analyzed along with the entry barriers faced by new entrants. The threat of substitutes and the buyer and supplier bargaining power have been given in this study, making it a valuable resource for investors, established players and emerging players. 

Veterinary diagnostic imaging is a non-invasive method for taking medical images of an animal’s body for disease diagnosis. Thus, they are expected to continue to be in demand. Animal healthcare has received a lot of attention of late on account of the growing need to increase their life span so as to get better yield. This is expected to drive the global veterinary diagnostic imaging market. The demand for veterinary diagnostic imaging is also increasing om account of the need to maintain and enhance the quality of life of the animals, by diagnosing the diseases and then providing the effective treatment for it.

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The increase in animal healthcare spending and rising trend of pet insurance policies will drive the market, says the lead author of this report. The growing income vets in developed nations has led to a rise in the number of vet practitioners, this in turn has increased the potential for diagnosis equipment. However, the high cost of veterinary diagnostic imaging instruments is a challenge for the market. 

The global veterinary diagnostic imaging market can be segmented on the basis of product, animal type, region, and therapeutic area. By product, the market is segmented into video endoscopy imaging systems, radiography systems, magnetic resonance imaging (MRI) systems, ultrasound imaging systems, and computed tomography (CT) imaging systems. Of these, the market is expected to be led by radiography systems segment on account of the high quality of images provided by X-ray and their cost effectiveness. The growing preference for this technology by vets is also a driving factor for this segment. 

On the basis of therapeutic area, the veterinary diagnostic imaging market can be segmented into oncology, orthopedics & traumatology, cardiology, and neurology. Of these, the orthopedics & traumatology segment is leading in the market on account of the increasing prevalence of bone injuries. Lameness has become common in animals and this is also expected to drive the orthopedics & traumatology segment towards growth. Also, the oncology segment is expected to witness a promising growth in the years to come. Rising cases of cancer in animals is anticipated to boost the growth of this segment. 


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